📌 Current U.S. Tariff Status (as of August 8, 2025)

• Modified Country‑Specific Reciprocal Tariffs Take Effect:
  Effective August 7, 2025, reciprocal tariffs ranging from 10 % to 41 % were imposed on imports from over 60 U.S. trading partners under the Executive Order issued July  3. For other countries not specifically listed, a 10 % baseline rateapplies . Goods determined to be transshipped to evade duties will incur a 40 % tariff .

• Additional 25 % Tariff on Indian Imports (Total 50 %):
  On August 6, 2025, the President announced an additional 25 % tariff on Indian goods, citing India’s continued import of Russian-origin oil. This raises total duties on some Indian exports to 50 % and takes effect 21 days after August 7.

• Economic & Diplomatic Fallout (India):
  Moody’s warns that the 50 % tariff could undercut India’s manufacturing ambitions and slow GDP growth by approximately 0.3 percentage points for the fiscal year ending March 2026 . India’s officials have condemned the move, calling it “extremely unfortunate,” while U.S.–India relations reach a low point . Further compounding tensions, President Trump has stated that no further trade talks will proceed until the tariff is resolved .

Source: whitehouse.gov, politico.com, whitehouse.gov

Market Conditions

TPEB (Trans-Pacific Eastbound)

• Demand remains flat in August, with Southeast Asia outpacing China in loadings. Rates have stabilized, and the PSS has been fully removed due to weak demand.

FEWB (Far East Westbound)

• Volume is softening as peak season winds down. Spot rates have dipped slightly but remain elevated, supported by high vessel utilization.

TAWB (Trans-Atlantic Westbound)

• Rates are steady across North Europe and West Med, with most PSSs deferred. GRIs are emerging for East Med lanes in early September.

Operational Updates

TPEB:

• China ports face delays from Tropical Storm Co-may, with ripple effects in Busan. Equipment remains tight for some carriers despite slight improvement.

FEWB:

• Typhoons continue to delay vessels at Far East ports, though inland congestion is limited. Delays are helping carriers maintain high load factors.

TAWB:

• Antwerp remains heavily congested with over 9-day dwell times. Inland disruptions and chassis shortages persist across Central and Eastern Europe.

Capacity Management

TPEB:

• Space remains widely available, even with capacity down to 70–80%. Carriers may adjust schedules with little notice.

FEWB:

• Weekly capacity stays strong, with extra loaders added mid-month. Late August blank sailings remain unclear.

TAWB:

• Capacity is stable, with blank sailings at 5–6%. Some service rotations are being adjusted to avoid congested ports.

Sources: xeneta.com, maersk.com, yangming.com, evergreen-line.com, supplychaindive.com

Air Cargo Carriers Adjust Capacity Post-Tariff Frontloading

Air cargo carriers are facing a realignment in capacity following a surge in July shipments tied to pre-tariff stockpiling. As demand normalizes, freighter airlines—especially in key Asian hubs like Hong Kong—are working to right-size networks across trade corridors. According to C.H. Robinson, the market is undergoing broad capacity adjustments as carriers respond to the rapid shifts in volume following the tariff-driven import acceleration.